Prudential reporting requirements for Takaful Operators

A Takaful Operator must prepare and submit to AFSA the annual, biannual and quarterly prudential returns.

AFSA may require the Takaful Operator to prepare additional prudential returns, by giving a notice to that effect to the Takaful Operator.

Deadlines for provision of returns

A Takaful Operator must give an annual prudential return to AFSA within 4 months after the day the relevant financial year of the Takaful Operator ends.

A Takaful Operator must give a biannual prudential return to the AFSA within 1 month after the day the relevant standard biannual period ends.

A Takaful Operator must give a quarterly prudential return to the AFSA within 1 month after the day the relevant standard quarter ends.

*standard biannual period means the 6-month period ending on 30 June or 31 December; and

*standard quarter means the 3-month period ending on 31 March, 30 June, 30 September or 31 December.

External audit opinion to accompany

When a Takaful Operator submits its annual prudential returns to the AFSA, it must also provide an external audit opinion to accompany those prudential returns.

Prudential returns by Takaful Operators

Item	Title of return	Form number	Frequency for AIFC-Incorporated Takaful Operators.	Frequency for Takaful Operators which are not AIFC-Incorporated
1	Statement of financial position / balance sheet	INS100	Annually and quarterly	Annually and quarterly
2	Statement of comprehensive income / income statement	INS200	Annually and quarterly	Annually and quarterly
3	Analysis of Derivative activities	INS111	Annually and quarterly	n/a
4	Analysis of investment concentrations in foreign currency	INS113	Annually and quarterly	n/a
5	Analysis of investment concentrations risk	INS114	Annually and quarterly	n/a
6	Supplementary information	INS210	Annually and quarterly	Annually and quarterly
7	Calculation of Eligible Capital	INS300	Annually and quarterly	n/a
8	Calculation of Prescribed Capital Requirement (PCR)	INS310	Annually and quarterly	n/a
9	Calculation of asset risk component	INS320	Annually and quarterly	n/a
10	Calculation of off-balance sheet asset risk component	INS330	Annually and quarterly	n/a
11	Calculation of off-balance sheet liability risk component	INS340	Annually and quarterly	n/a
12	Calculation of Premium Risk Component	INS350	Annually and quarterly	n/a
13	Calculation of technical provisions risk component	INS360	Annually and quarterly	n/a
14	(For Long Term Takaful Operators only) Calculation of Family Takaful risk component	INS370	Annually and quarterly	n/a
15	Calculation of Takaful concentration risk component	INS380	Annually and quarterly	n/a
16	Statement of Retakaful / reinsurance	INS400	Annually	Annually and quarterly
17	Statement of premium information	INS500	Annually and quarterly	Annually and quarterly
18	Statement of technical provisions and claims	INS600	Annually and quarterly	Annually and quarterly
19	(For Long Term Takaful Operators only) Statement of changes in long term business	INS610	Annually	n/a
20	Statement of intra-group transactions	INS700	Annually and quarterly	n/a
21	Statement of largest clients	INS800	Annually and quarterly	Annually and quarterly

For more information, please follow the Takaful Retakaful prudential rules

Manual for preparation of returns

Prudential reporting forms available on Digital Resident portal.